Advancium Health Network Inc
- Assets
- $18.0m
- Revenue
- $17.0m
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- Data as of
- 12/2023
- EIN
- 87-2622250
Organization Overview
Advancium Health Network Inc is located in New York, NY. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2023, Advancium Health Network Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advancium Health Network Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Advancium Health Network Inc generated $17.0m in total revenue. All expenses for the organization totaled $5.3m during the year ending 12/2023. While expenses have increased by 338.1% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCIUM HEALTH NETWORK IS A MISSION-DRIVEN CHARITABLE ORGANIZATION COMMITTED TO ELIMINATING BARRIERS IN HEALTHCARE THROUGH A UNIQUE MODEL THAT COMBINES THE EXPERTISE OF FOR-PROFIT LEADERSHIP WITH NON-PROFIT MOTIVATIONS. THROUGH THE SUPPORT OF OUR PARTNERS, INDUSTRY EXPERTS, AND CHARITABLE DONORS, WE'RE TACKLING HEALTHCARE'S MOST CHALLENGING GAPS AND UNMET NEEDS ACROSS THE INDUSTRY - FROM EARLY-STAGE INNOVATION, TO PEDIATRICS AND RARE DISEASE. ADVANCIUM HEALTH NETWORK IS COMMITTED TO A POSITIVE IMPACT ON HUMAN HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCIUM HEALTH NETWORK IS A MISSION-DRIVEN CHARITABLE ORGANIZATION COMMITTED TO ELIMINATING BARRIERS IN HEALTHCARE THROUGH A UNIQUE MODEL THAT COMBINES THE EXPERTISE OF FOR-PROFIT LEADERSHIP WITH NON-PROFIT MOTIVATIONS. THROUGH THE SUPPORT OF OUR PARTNERS, INDUSTRY EXPERTS, AND CHARITABLE DONORS, WE'RE TACKLING HEALTHCARE'S MOST CHALLENGING GAPS AND UNMET NEEDS ACROSS THE INDUSTRY - FROM EARLY-STAGE INNOVATION, TO PEDIATRICS AND RARE DISEASE. ADVANCIUM HEALTH NETWORK IS COMMITTED TO A POSITIVE IMPACT ON HUMAN HEALTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Veich President | OfficerTrustee | 1 | $0 |
Jeffrey Kaplan Treasurer | OfficerTrustee | 1 | $0 |
Olivier Elemento Secretary | OfficerTrustee | 1 | $0 |
Laurie Zephyrin Director | Trustee | 1 | $0 |
Michele Cleary Director | Trustee | 1 | $0 |
Ron Mitchell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Lewis & Bockius Llp Legal Services | 12/30/23 | $670,813 |
Ceradini Brand Design Branding Consulting | 12/30/23 | $301,157 |
Coridea Scientific Consulting | 12/30/23 | $234,003 |
Saberin Creative Llc Website Hosting | 12/30/23 | $154,303 |
Harmonized Marketing Llc Branding Consulting | 12/30/23 | $152,583 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,883,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,883,964 |
| Total Program Service Revenue | $0 |
| Investment income | $1,068 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$53 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,967,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,053,494 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $610,720 |
| Compensation of current officers, directors, key employees. | $610,720 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $781,455 |
| Pension plan accruals and contributions | $13,857 |
| Other employee benefits | $64,493 |
| Payroll taxes | $76,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $700,516 |
| Fees for services: Accounting | $119,777 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $356,659 |
| Advertising and promotion | $477,528 |
| Office expenses | $28,328 |
| Information technology | $258,946 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $139,257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,115 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $99,681 |
| All other expenses | $53,100 |
| Total functional expenses | $5,300,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,497 |
| Savings and temporary cash investments | $1,598,125 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,621,470 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $326,479 |
| Net Land, buildings, and equipment | $12,036,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,991,568 |
| Accounts payable and accrued expenses | $5,731,157 |
| Grants payable | $264,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,995,157 |
| Net assets without donor restrictions | $11,269,104 |
| Net assets with donor restrictions | $727,307 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,991,568 |
Grants Awarded
Over the last fiscal year, Advancium Health Network Inc has awarded $1,053,494 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
POLYVASCULAR INC PURPOSE: RESEARCH AND DEVELOPMENT | $703,494 |
THE CHILDREN'S HOSPITAL OF PHILADELPHIA FOUNDATION PURPOSE: RESEARCH AND DEVELOPMENT | $350,000 |